The Role of Technology in Energy Management

Kiki Dikmen | Managing Partner | Choice_Energy_Services -Insights Success

The energy world is constantly changing and the way organizations procure, manage and use energy for their operations is dramatically different than it was several years ago. As expectations for procurement and energy management continue to evolve, innovators are working on technological solutions for the future.

For most organizations, the constantly changing energy landscape, the need to manage risk around energy commodity prices, concerns about sustainability and emerging technologies have created a significantly increased need for better energy management. Energy management has become not only increasingly important but also much more complex. This has created an imperative need to educate C-suite executives and energy managers on the full spectrum of challenges and solutions needed to achieve business objectives.

The emerging opportunities for energy savings and sustainability initiatives have put energy on the executive agenda. There is much business value to be gained from using energy management services to deliver operational efficiencies and better manage risk, but it has been only recently that solution providers have been able to integrate offerings with developed solutions that provide meaningful insights to decision makers and additionally create exceptional user experiences for energy users. Energy Managers are looking for solution providers and partners that address their full range of needs including rate shopping and procurement in deregulated and regulated markets, meter installations, expansion projects, solar applications, utility data management solutions and more.

Today, the industry offers a more technology-centric approach for outsourcing procurement solutions. Innovative technologies such as big data, cloud computing, and analytics are being leveraged to provide new insights, flexibility and agility to the complex array of energy and utility management. The organizations that provide the platform and operating model to enable these new tools will be best positioned to address and cope with the ever-changing energy landscape.

Choice Energy Services maximizes the value of technology by combining utility data management, strategic energy procurement and proactive analytics with in-house technology – via a powerful platform that integrates enterprise energy information and delivers outstanding results.

Choice offers a comprehensive business service through its award-winning automated and intuitive proprietary analytics platform, CESConnect. CESConnect is a solution that tracks and manages enterprise utility data across all utility markets and company sites, each with unique utility rates, regulatory setups, weather conditions, business purposes and employee behavior. Choice drives its growth via service offerings that are predicated on the innovation and agility of the CESConnect platform.

Choice leverages its relationship with its affiliate OTC Global Holdings, a top three wholesale broker of power and natural gas options, to empower clients to be price setters by ensuring price transparency into each market. This unique advantage ensures energy professionals are aligned with the best retail supplier at the best price for their business. It also provides top executives and energy managers with the ability to focus on their core business and agility in their capital allocation process, while Choice focuses on managing their energy spend, consumption, and sustainability efforts.

Although technology and reliable data analytics help organizations evolve and achieve business goals, taking full advantage of emerging technologies is not a simple task. Many executives and energy managers are wary of change and the unforeseen costs for technologies that have yet to prove themselves in the long term. They fear that current technologies will become outdated and obsolete before realizing the return on their investment. As a result, emerging technology trends continue to be a learning experience as customer needs continue to change.

In the past, technology has primarily been aimed at improving efficiency, but technology has now become the main driver of strategic competitive advantage. Superior insight enabled by the integration of data, technologies and strategic goals will continue to pave the path for new innovations in energy. In time, energy will not be sold as a commodity but instead delivered as a comprehensive service, in which companies get access to reliable, sustainable and affordable energy and energy management solutions. Choice is well positioned to continue as a leader in energy management through building technological solutions and working with users to deliver meaningful results.